Asks how oil trade disruption affects Asia and Europe.
Francine Lacqua
Alaric Nightingale
Already affecting Asia. Refineries cutting back, diesel and jet fuel prices soaring, moving into retail sphere.
Asks about impact on container shipping and air cargo.
Francine Lacqua
Alaric Nightingale
Container shipping at virtual standstill (~100 vessels stuck). Air cargo also halted (Qatar, Emirates grounded). Ripple effects to Europe/US likely.
Asks if oil can be rerouted and if closure is due to insurance or safety.
Francine Lacqua
Alaric Nightingale
20% of supply cannot be rerouted. Closure is about safety of ships, not insurance. Convoy plan doesn't fully solve safety concern.
Alaric Nightingale
Air freight costs up 10-20%. Bottleneck forming; ports elsewhere lack capacity. Makings of another supply chain crisis if prolonged.